Harvard Business School Dean on a Global Century

Nitin Nohria, Harvard Business School's first non-North American born dean, speaks to WSJ's Duncan Mavin about a global 21st century and the position of the West within the world's economy.

This transcript has been automatically generated and may not be 100% accurate.

I ... high and intimate and with the Wall Street Journal in Hong Kong ... I knew it the Newton area from the Harvard business School ... Dean Doria tell us what it means is this normal American ball and ... chain of public business school ... so I think it's a it's wonderful ... go to need ... it isn't a very special thing because in some ways it just isn't a reflection of what I think is good for ways ... to Greek tradition of American universities ... they have always been cases that to ... attract people there is active in ... the background give them the opportunities to succeed and ... if they show that they have the promise to succeed give them the best opportunities and ... it is just a coincidence I think in some ways that to happen to have been born in India we said he had ... a Canadian who was Dean before me ... I'm sure that they are the people of other nationalities and BG offered me ... the Nori one of those things you've chosen to do is ... identify what does the school is they will with ... stops in Mumbai and Hong Kong and Shanghai ... white Ijichi status as one of your first acts ... to one of the great changes that I think is taking this into when the business is that ... people use to describe the twentieth century ... as the American Century ... and Sydney and business that ... is not in other spheres of life that was absent due to ... an American dominated the wooden business over the twentieth century ... American firms with the largest fraction of firms in the mobile ... five hundred funds almost throughout the twentieth century ... I think that twenty percent in the other hand has been a truly be until the century ... and as pivoted Lillis entry because there's going to be competition from or possible and I really do think that part was contrived is no centuries that ... increasingly innovation ... is no longer going to be centered in any one part of what ... is going to fall much will be around the one ... and that's what's been a defined as the century that we can no longer be confident that organization isn't a come from America it could come from any part of the word ... answers that's very often the basis of new competition ... that's right and competition would come ... to think the West has lost any sense of business leadership in the last couple BS of everything that's gone on in the global economy ... when you've been ... dominant for so long ... and have literally been on a private in the one ... I think their ... idea someone catching up to you does creating psyche ... what we need to remember is that it is not like America and Europe are in decline is just that there are other parts of the word that are rising to become ... the competitors in the one ... but if you take the case as if you really believe that the next battleground would be innovation ... the still enormous capacity for innovation in America this enormous capacity for innovation in ... Europe incidentally I think that ... Japan which has been forgotten for the last two decades ... there's an enormous amount of opportunity for innovation in Japan as well ... so as to what is looking for innovation whether it be in new forms of ... energy if it's in new clean tech to ... health care system that can create ... opportunities for innovation and the word ... there's no reason to feel confident for us that will come from the the emerging markets of the West Epping to be very very competitive ... and US Open define this new bill this entry will be defined by where innovation comps ... I really think that nobody in the listed Evans IPD could be there's every reason for them to continue to be as competitive ... in this new bill essentially as they were in the Poste ... BST to recognize that not given a have no serious competition ... from other parts of the wood is well ... thanks very much ... the Wall Street Journal and the maiden in Hong Kong ... the ...